Overview
Our MSc Banking and Finance programme will equip you with the practical skills to understand and model banking and financial markets, using the toolkit of economics.
Banking and financial services are used worldwide every day by businesses and consumers. The performance of banking firms can shape global economies and enable businesses to grow and improve society’s welfare.
Taught by academic experts in economics, banking and finance, you will learn how the actions of governments, firms, households, and financial intermediaries affect national and global financial assets such as bond, equities and foreign exchange markets. In addition, this master’s in banking and finance programme will expose you to the theory and practice of bank credit and lending, as well as financial institution risk management.
MSc Banking and Finance is ideal for those who wish to pursue a career in banking, financial services, international financial management, or central banking and financial regulation.
On successful completion of this programme, you will be able to:
- understand and explain the functions and operations of institutions, financial markets and systems, with special reference to central banks, commercial banks and other financial intermediaries
- understand and explain the core theories of financial economics with respect to risk management, asset pricing and investment, and to be able to use these theories to assist them in asset management
- undertake independent applied research in banking and finance, using basic research tools and quantitative methods appropriate to the conduct of independent research.
Who should study this programme?
Our MSc Banking and Finance programme is ideal for graduates interested in careers in banking, financial services, international financial management, or central banking and financial regulation and equips you with the knowledge and skills to apply the toolkit of economics to model the performance of banking and financial markets and the implications of this for the sector and the wider economy.
Why you should choose us
Why you should study this degree
What makes this programme different?
- Scholarships available for the best candidates
- Underpinned by the latest research and best practice
- Opportunity to complete a research project
- Develop practical skills to understand financial markets
What you'll study
Our modules are underpinned by the latest research and best practice, having been designed to provide you with up-to-date and relevant knowledge of banking, finance and research methods. Your optional modules will enable you to specialise in the areas of economics, banking and finance that best suit your career ambitions and interests, and you will be able to sharpen your applied research skills by completing a banking and finance in practice project.
The following information is intended as an example only and is based on module information for the 2019/20 year of entry. Modules are reviewed on an annual basis and may be subject to future changes. Updated Programme and Module Specifications are made available ahead of each academic year. Please see Terms and Conditions of Study for more information.
Financial Economics (15 credits)
This module will develop your familiarity with the fundamental concepts of financial economics to prepare you for further study in more advanced topics and modules in finance. You will also learn how to model the behaviour of investors under conditions of uncertainty and how to apply theoretical models in both asset pricing and the evaluation of capital market efficiency.
Topics covered may include:
- fundamental mathematical techniques in finance:
- discounting and compounding in discrete and continuous time
- calculus and constrained optimisation
- Taylor's series: elementary matrix operations
- yields and the pricing of bonds and discount securities using present value methods
- the term structure of interest rates and the interest rate risk of bond portfolios
- present value models of asset pricing
- the concept of capital market efficiency and tests of efficiency
- the expected utility hypothesis, utility functions and investor choice under uncertainty
- diversification, mathematical optimisation and the mean-variance model
- single index and multi-index models
- the capital asset and arbitrage pricing models: their derivation, interpretation and application
- tests of asset pricing theory and asset pricing anomalies
- hedging, speculation and arbitrage
- an introduction to the basic features of options and futures
- the single-period binomial option pricing model.
The Financial System (15 credits)
This module will provide you with an overview of the financial system, including an appreciation of the economic problems that financial institutions and markets seek to overcome. You develop an understanding of the organisation and operation of the major financial institutions and markets, the impact of technology and regulation on the evolution of the industry and an awareness of how alternative structures of financial systems seek to solve common problems.
Topics studied may include:
- an overview of the financial system
- a short history of money and banking
- banking products and services
- bonds and bond markets
- corporate governance and external finance
- payment systems and the central bank
- equity markets and equity trading
- foreign exchange, commodity and derivative trading
- market infrastructures and international exchance
- money markets, liquidity and the global financial crisis.
Economic Data Analysis (15 credits)
This module will develop your competencies in the practical techniques economists often use to handle, analyse and interpret economic data. It will therefore provide you with a solid foundation of the econometric techniques and skills that form the basis for the quantitative/econometric modules of this master's programme.
Topics covered may include:
- an introduction to econometrics
- statistics:
- regression analysis
- statistical inference and hypothesis testing
- dummy variables
- different functional forms
- departures from main assumptions (multicollinearity, heteroskedasticity, specification bias and autocorrelation)
- practical labs: applied direct analysis of economic data using STATA (or other equivalent software).
Optional modules (choose one)
Economics of Firms and Markets (15 credits)
This module will expose you to the microeconomic theory of producer and consumer decision making and will provide a solid grounding in the economic theory and analytical methods employed in subsequent modules.
Topics covered may include:
- consumer choice, including utility maximisation
- theory of the firm, including production functions, and profit and cost minimisation
- general equilibrium and welfare
- Pareto efficiency and the two fundamental theorems.
Macroeconomic Policy and Financial Markets (15 credits)
The aim of this module is to provide you with an understanding of the main models used for macroeconomic policy formulation at the graduate level. You will develop an understanding of important areas of macroeconomic policies, be able to undertake analysis of the policies as regards to financial markets and the economy as a whole and be able to explain the operation of monetary and fiscal policy.
Topics covered may include:
- macroeconomics, finance and measurement: income accounting, flow of funds analysis and the role of money
- the principle of aggregate demand: savings, investment, net exports and the IS curve
- financial markets, aggregate demand and monetary policy
- fiscal policy
- the foreign exchange market, the balance of payments, exchange rate and international policy formulation and co-ordination.
Applied Financial Econometrics (15 credits)
This module will equip you with the quantitative techniques necessary to conduct empirical work in the area of applied finance and economics, and enable you to apply these using appropriate econometric software.
Topics studied may include:
- unit roots
- cointegration
- general autoregressive heteroscedasticity and its applications in finance
- limited dependent variable models
- panel data techniques.
Banking and Financial Markets (15 credits)
This module will provide an in-depth analysis of the causes, implications and regulatory responses to the recent global banking crisis. In particular, you will review and analyse the theoretical basis of financial innovation and its impact on financial institutions and markets, and the role of derivative instruments in the banking crisis. You will also review and analyse price- and credit-derivative instruments, analyse the nature, causes, policy responses and implications of the global financial crisis and consider post-crisis scenarios for bank business models and regulation.
Topics studied may include:
- financial innovation and instruments
- securitisation
- credit derivatives
- nature of the banking and financial crisis
- causes of the crisis
- policy responses and intervention
- financial regulation.
Research Communication for Economists (10 credits)
This module will develop skills allowing you to enhance your oral presentation and communication skills for both academic research and employment. You will develop spoken and written specialist language to suit the high-level communication requirements and style of project proposals and project reports (for both research and employment) and conduct critical constructive synthesis of specialist literature
Topics studied may include:
- literature search using library and online literature databases
- analysis, synthesis and communication of research ideas and findings, using prescribed pedagogic sets of readings
- writing reviews of prescribed pedagogic sets of readings using appropriate specialist language and structure
- preparation of short presentations
- recognition and avoidance of plagiarism and poor scholarship.
Optional modules (choose two)
Risk Management and Derivatives (15 credits)
This module will introduce you to options, futures, swaps and other derivative instruments and their use in asset management. You will develop knowledge of the basic theory of options and futures pricing and gain an understanding of how different financial instruments can be combined into portfolios for the purpose of hedging, speculation and arbitrage. The module will also enable you to identify the fundamental concepts of derivative financial instruments, derive theoretical prices for options forwards and futures and be able to recognise arbitrage opportunities in simple examples and suggest trade strategies to exploit them.
Topics covered may include:
- the market for options and futures
- the concept of arbitrage
- fundamental option price theorems
- put-call parity
- derivation of the Binomial and Black-Scholes option pricing models
- valuation of futures contracts
- stock index, interest rate and currency futures
- examples of hedging and speculation using options, futures and swaps
- portfolio insurance
- bond portfolio management, duration and convexity.
Corporate Finance (15 credits)
This module will present modern theories of corporate finance and show how these can be applied to understanding the financing and investment decisions of companies, particularly those quoted on the stock exchange. You will develop an understanding of project investment appraisal, the capital structure of a corporation, dividend policy and current issues in corporate finance.
Topics covered may include:
- corporate investment decisions in the absence of uncertainty
- investment and uncertainty
- the theory of capital structure and Modigliani-Miller
- event studies
- Tobin's Q and investment
- taxation and capital structure
- trade-off and pecking order theories
- empirical evidence on capital structure
- dividend policy.
International Money and Finance (15 credits)
This module will explore issues related to the mechanics of currency markets, international finance and economics by using economic principles to examine international monetary arrangements and policy since 1945. You will develop an understanding of the international monetary system and the construction of economic modules, along with skills in modelling macroeconomic variables in international finance.
Topics covered may include:
- an introduction to exchange rates
- international parity conditions
- macroeconomic dimensions of international finance
- international monetary arrangements
- determination of exchange rates
- international capital flows: debt, currency crises and credibility.
Banking and Finance in Practice (20 credits)
This module will see you identifing and assessing complex issues in banking and finance, applying tools of analysis to practical and research issues to prepare you for employment in these sectors.
Topics covered may include:
- banking data sources
- statistical methods and techniques to analyse banking data
- banking performance
- competition and concentration in banking industry
- regulation and corporate governance issues in banks and financial intermediaries.
Economic Research Project (30 credits)
This module will allow you to apply and communicate your knowledge of economics via the development of an individual project essay in banking and finance. You will explore an issue of policy relevant to your research theme, exploiting the economic tools and techniques taught in your master's modules and providing robust recommendations for policy makers and other decision makers.
The module is focused on independent study aimed at identifying, proposing, researching and writing up an individual, distinct and in-depth applied economics research project. Your individual topic will be developed in consultation your academic supervisor and will be closely coordinated with your group project in the Banking and Finance in Practice module.
How you'll be assessed
You will be assessed by a combination of group and individual coursework, as well as exams.
How you'll study
- Seminars
- Tutorials
- Field trips
- Independent study
- Group work
- Workshops
Your personal and professional development
Our School of Business and Economics is committed to helping you develop the skills and attributes you need to progress successfully in your chosen career. As part of our ongoing commitment to supporting you with your personal and professional development, all our Business and Economics postgraduate students have the opportunity to attend an impressive range of extra-curricular masterclasses and public lectures – all on campus and free of charge. Our masterclasses and public lectures to offer you the chance to broaden your horizons, with a wide range of business-related topics covered, with speakers from the Bank of England, Shazam, Shell and Dell just to name a few.
Future career prospects
Graduates will be equipped for a career in financial services, international financial management, central banking and financial regulation, or government and economics consultancies.
Graduate destinations
Recent graduate destinations include:
- Bank of China – China, Senior Manager
- China Everbright Bank, Client Manager
- China National Coal Group Corp., Settlement Analyst
- Government Savings Bank, Banking Officer
- Guosen Securities, Financial Market Trader
- Hangseng Bank Co., Relation Manager
- ICAP, Foreign Exchange Broker
- KPMG, Audit Associate
- PriceWaterhouseCoopers, Trainee Accountant
- Shenzhen Development Bank, Accountant
- VTB Bank – Armenia, Head of Large Corporate Clients Division
- Xianda College of Economics and Humanities, Lecturer.
Entry requirements
Our entry requirements are listed using standard UK undergraduate degree classifications i.e. first-class honours, upper second-class honours and lower second-class honours. To learn the equivalent for your country, please choose it from the dropdown below.
Entry requirements for United Kingdom
A 2:1 honours degree (or equivalent international qualification) in economics, finance, business, management, management science or operations research.
Applicants from related disciplines may also be considered provided that your degree includes at least introductory modules in economics and an introduction to quantitative subjects such as calculus and statistics.
Afghanistan
First-class honours (70%) | Upper second-class honours (60%) | Lower second-class honours (50%) | |
---|---|---|---|
Masters | 95% | 85% | 70% |
Albania
First-class honours (70%) | Upper second-class honours (60%) | Lower second-class honours (50%) | |
---|---|---|---|
Diplomë e Nivelit të Pare (First Level (University) Diploma (from 2010) | 9.5 | 8.5 | 8 |
Algeria
First-class honours (70%) | Upper second-class honours (60%) | Lower second-class honours (50%) | |
---|---|---|---|
Licence (4 year) / Diplome d'Inginieur d'Etat / Diplôme d'Etudes Supérieures | 16 | 14 | 12 |
Argentina
First-class honours (70%) | Upper second-class honours (60%) | Lower second-class honours (50%) | |
---|---|---|---|
Argentina | 8.5 | 7.5 | 6.0 |
Armenia
First-class honours (70%) | Upper second-class honours (60%) | Lower second-class honours (50%) | |
---|---|---|---|
Bakalavri Kochum | 90% | 80% | 70% |
Magistrosi Kochum | 3.9 | 3.5 | 3.0 |
Australia
First-class honours (70%) | Upper second-class honours (60%) | Lower second-class honours (50%) | |
---|---|---|---|
Honours degree (AQF level 8) | First Class, 80% | Upper Second, 70%, H2A | Lower Second, 60%, 2B |
Ordinary degree - AQF Level 7 pass (mark 46 or 50) | High Distinction (80% or 85%) | Distinction (75% or 80%) | Distinction (70% or 75%) |
Austria
First-class honours (70%) | Upper second-class honours (60%) | Lower second-class honours (50%) | |
---|---|---|---|
Degree/ Diplomstudium / Magister degree | A (or 1.5) mit Auszeichnungbestanden | 60% or B or 3.0 (or 2) | 50% or C or 2.7 (or 3) |
Azerbaijan
First-class honours (70%) | Upper second-class honours (60%) | Lower second-class honours (50%) | |
---|---|---|---|
Bakalavr Diplomu | 4.5 | 4 | 3.5 |
Diplomu (Specialist Diploma) | 90% | 80% | 70% |
Bahamas
First-class honours (70%) | Upper second-class honours (60%) | Lower second-class honours (50%) | |
---|---|---|---|
Degree from University of the West Indies only | 1st (GPA 3.6) | 2:1 (GPA 3.0) | 2:2 (GPA 2.5) |
Bahrain
First-class honours (70%) | Upper second-class honours (60%) | Lower second-class honours (50%) | |
---|---|---|---|
GPA 4.0 scale | 3.5 | 3.0 | 2.8 |
Bangladesh
First-class honours (70%) | Upper second-class honours (60%) | Lower second-class honours (50%) | |
---|---|---|---|
BUET or 'Good Private' University - 4 year degree | BUET - 1st (70%) / 3.5 | BUET - 2nd (60%) / 3.0 | BUET - 2nd (55%) / 2.75 |
Other universities - Masters (1-2 years) following a 3 or 4 year degree | 80% / 4.0 | 65% / 3.25 | 50% / 2.5 |
Belarus
First-class honours (70%) | Upper second-class honours (60%) | Lower second-class honours (50%) | |
---|---|---|---|
Specialist Diploma (5Yr) | 9 | 7 | 5 |
Belgium
First-class honours (70%) | Upper second-class honours (60%) | Lower second-class honours (50%) | |
---|---|---|---|
Bachelor degree | Magna Cum Laude | Cum Laude | 60%/12 |
Licenciaat | 80% | 70% | 60% |
Licencie | 17 | 14 | 12 |
Belize
First-class honours (70%) | Upper second-class honours (60%) | Lower second-class honours (50%) | |
---|---|---|---|
Degree from University of the West Indies only | 1st (GPA 3.6) | 2:1 (GPA 3.0) | 2:2 (GPA 2.5) |
Benin
First-class honours (70%) | Upper second-class honours (60%) | Lower second-class honours (50%) | |
---|---|---|---|
Maitrise | 18 | 15 or Bien | 12 or Assez Bien |
Bermuda
First-class honours (70%) | Upper second-class honours (60%) | Lower second-class honours (50%) | |
---|---|---|---|
Degree from University of the West Indies only | 1st (GPA 3.6) | 2:1 (GPA 3.0) | 2:2 (GPA 2.5) |
Bolivia
First-class honours (70%) | Upper second-class honours (60%) | Lower second-class honours (50%) | |
---|---|---|---|
A Licenciado, 4 years Private (public/private) | 85/78 | 75/66 | 67/55 |
Bosnia and Herzegovina
First-class honours (70%) | Upper second-class honours (60%) | Lower second-class honours (50%) | |
---|---|---|---|
Diploma Visokog Obrazovanja / Diplomirani | 10 | 9 | 8 |
Botswana
First-class honours (70%) | Upper second-class honours (60%) | Lower second-class honours (50%) | |
---|---|---|---|
Master's degree | A or 80% | B or 70% | C or 60% |
Brazil
First-class honours (70%) | Upper second-class honours (60%) | Lower second-class honours (50%) | |
---|---|---|---|
Brazil - 4 yr Bacharel or Licenciado/Licenciatura or Título Profissional | 8.5 (A) | 7.5 | 6.0 |
Brunei
First-class honours (70%) | Upper second-class honours (60%) | Lower second-class honours (50%) | |
---|---|---|---|
Brunei | First | Upper Second (60%/B/3.1) | Lower Second (50%/C/2.7) |
Bulgaria
First-class honours (70%) | Upper second-class honours (60%) | Lower second-class honours (50%) | |
---|---|---|---|
5 yr Diploma za Zavarsheno Visshe Obrazovanie (Diploma of Completed Higher Education) | 6 | 5 | 4 |
Cambodia
First-class honours (70%) | Upper second-class honours (60%) | Lower second-class honours (50%) | |
---|---|---|---|
4 years | 90% or 9 or 4.0 | 80% or 8 or 3.5 | 70% or 7 or 3.0 |
Cameroon
First-class honours (70%) | Upper second-class honours (60%) | Lower second-class honours (50%) | |
---|---|---|---|
Bachelor degree or Diplome d'Etudes Superiures de Commerce | 1st or 15 | 2:1 or 14 | 2:2 or 12.5 |
Diplome d'Ingenieur or Diplôme d'Ingénieur de Conception or a Maitrise or a 4 year Licence | 20 or GPA 3.7 | 20 or Bien (GPA 3.4) | 20 or Assez Bien (GPA 3.1) |
Canada
First-class honours (70%) | Upper second-class honours (60%) | Lower second-class honours (50%) | |
---|---|---|---|
GPA 4.0/percentage scale | 3.7/85% | 3.3/75% | 2.7/68% |
Out of 9 | 8 | 6 | 5 |
Out of 12 | 10 | 8 | 6 |
Chile
First-class honours (70%) | Upper second-class honours (60%) | Lower second-class honours (50%) | |
---|---|---|---|
Grado de Licenciado / Título (Profesional) de [subject area] (4 years) | 6 | 5.5 | 5 |
China
Students are required to have a bachelor degree (4 years) for entry to a postgraduate programme. The University uses the Shanghai Academic Ranking of World Universities to identify the required final mark, as outlined on the table below:
First class (70%) | Mid 2:1 (65%) | 2:1 (60%) | Mid 2:2 (55%) | 2:2 (50%) | |
---|---|---|---|---|---|
Shanghai Rank Top 250 | 85% | 81% | 80% | 78% | 77% |
Shanghai Rank 251-500 | 89% | 84% | 83% | 81% | 80% |
Shanghai Rank 501+ | 92% | 87% | 86% | 85% | 82% |
Affiliated colleges
The University will consider students from Affiliated Colleges in the following way:
Applicants from colleges affiliated to universities in the top 250 Shanghai rankings will considered if they have achieved or are likely to achieve final marks of 80%-84%.
Applicants from colleges affiliated to universities which are 251-500 in the Shanghai rankings will considered if they have achieved or are likely to achieve final marks of 82%-87%.
Applicants from colleges affiliated to universities which are above 500 in the Shanghai rankings will considered as follows:
- School of Business and Economics: not considered
- All other programmes if they have achieved or are likely to achieve final marks of 82%-87%.
Universities given special consideration
Applicants from a small number of Chinese universities that specialise in business, management, finance or creative arts will be given special consideration by the University. The full list of these universities and the Shanghai band under which they will be considered can be found in the PDF below.
Download the list of Chinese universities given special consideration here
Colombia
First-class honours (70%) | Upper second-class honours (60%) | Lower second-class honours (50%) | |
---|---|---|---|
Licenciado / Título de [subject area] | 4.5 | 3.75 | 3.2 |
Costa Rica
First-class honours (70%) | Upper second-class honours (60%) | Lower second-class honours (50%) | |
---|---|---|---|
Licenciado | 9 | 8 or 80 | 7 or 75 |
Croatia
First-class honours (70%) | Upper second-class honours (60%) | Lower second-class honours (50%) | |
---|---|---|---|
Baccalaureus / Prvostupnik | 4.5 | 3.8 | 3.0 |
Cuba
First-class honours (70%) | Upper second-class honours (60%) | Lower second-class honours (50%) | |
---|---|---|---|
4-year Titulo de Licenciado / Licenciatura | 5 | 4 | 3 |
Cyprus
First-class honours (70%) | Upper second-class honours (60%) | Lower second-class honours (50%) | |
---|---|---|---|
Cyprus | 8.5 | 7.0 | 6.5 |
Czech Republic
First-class honours (70%) | Upper second-class honours (60%) | Lower second-class honours (50%) | |
---|---|---|---|
Bakalár (after 2001) 6 yr integrated Magistr | 1 | 1.5 | 2 |
Denmark
First-class honours (70%) | Upper second-class honours (60%) | Lower second-class honours (50%) | |
---|---|---|---|
5 year Candidatus/Candidata Magisterii or Bachelor degree (7 point scale) | 12 | 10 | 7 |
Dominican Republic
First-class honours (70%) | Upper second-class honours (60%) | Lower second-class honours (50%) | |
---|---|---|---|
4 year Licenciado | 3.8 | Magna Cum Laude 3.5 | Cum Laude 3.2 |
Título de [subject area] | - | 85% | 82% |
Ecuador
First-class honours (70%) | Upper second-class honours (60%) | Lower second-class honours (50%) | |
---|---|---|---|
Título de Licenciado | 8.5 | 8 | 7 |
Título de [subject area] | 85% | 80% | 70% |
Egypt
First-class honours (70%) | Upper second-class honours (60%) | Lower second-class honours (50%) | |
---|---|---|---|
Egypt | 3.5 | 3.2 | 2.8 |
Universities only | BA 90%, BSc 85% | BA 80%, BSc 75% | BA 65%, BSc 65% |
El Salvador
First-class honours (70%) | Upper second-class honours (60%) | Lower second-class honours (50%) | |
---|---|---|---|
5 year Licenciado | 8.5 | 7.5 | 6.5 |
Título de Ingeniero | 85% | 75% | 65% |
Arquitecto | - | Muy Bueno | Bueno |
Estonia
First-class honours (70%) | Upper second-class honours (60%) | Lower second-class honours (50%) | |
---|---|---|---|
Bakalaureusekraad or Magister or Magistrikraad | 5 or A | 4 or B | 3 or C |
Ethiopia
First-class honours (70%) | Upper second-class honours (60%) | Lower second-class honours (50%) | |
---|---|---|---|
Master's | A/GPA 4.0 | A/GPA 3.5 | B/GPA 2.8 |
Finland
First-class honours (70%) | Upper second-class honours (60%) | Lower second-class honours (50%) | |
---|---|---|---|
Kandidaattii/Kandidat (out of 3) | 3 | 2 | 1 |
Maisteri/Magister (out of 5) | 4.5 | 3 | 2.5 |
France
First-class honours (70%) | Upper second-class honours (60%) | Lower second-class honours (50%) | |
---|---|---|---|
Licence (3 years)/ Maitrise/ Diplôme d'Ingénieur | 14 | 12 | 11 |
Georgia
First-class honours (70%) | Upper second-class honours (60%) | Lower second-class honours (50%) | |
---|---|---|---|
4-year degree (% = new system) | 5 (95%) | 4.5 (85%) | 4 (75%) |
Germany
First-class honours (70%) | Upper second-class honours (60%) | Lower second-class honours (50%) | |
---|---|---|---|
German Bachelor/ Diplom, Magister Artium / Zeugnis über den Zweiten Abschnitt der Ärztlichen Prüfung | 1.5 | 2.5 | 3.0 |
Ghana
First-class honours (70%) | Upper second-class honours (60%) | Lower second-class honours (50%) | |
---|---|---|---|
Ghana | First | Upper second/60% | Lower second/50% |
Greece
First-class honours (70%) | Upper second-class honours (60%) | Lower second-class honours (50%) | |
---|---|---|---|
AEI | 8.5 | 7.0 | 6 |
TEI | 8.5 | 7 | 6.5 |
Grenada
First-class honours (70%) | Upper second-class honours (60%) | Lower second-class honours (50%) | |
---|---|---|---|
Degree from University of West Indies - classification | 1st | 2:1 | 2:2 |
Degree from University of West Indies - grade / percentage | A | B / 75% | C / 55% |
Degree from University of West Indies - GPA | 3.6 | 3.0 | 2.0 |
Guatemala
First-class honours (70%) | Upper second-class honours (60%) | Lower second-class honours (50%) | |
---|---|---|---|
Liceniado / Titulo de (subject area) - 4years | 90% (public university) / 95% (private university) | 80% (public university) / 85% (private university) | 60% (public university) / 70% (private university) |
Guyana
First-class honours (70%) | Upper second-class honours (60%) | Lower second-class honours (50%) | |
---|---|---|---|
Master's | GPA 4 | GPA 3.5 | 3.0 |
Honduras
First-class honours (70%) | Upper second-class honours (60%) | Lower second-class honours (50%) | |
---|---|---|---|
Título de Licenciado / Grado Académico de Licenciatura (4 year degree) - GPA out of 5 | GPA 5 or 90% | GPA 4 or 80% | GPA 3.5 or 70% |
Hong Kong
First-class honours (70%) | Upper second-class honours (60%) | Lower second-class honours (50%) | |
---|---|---|---|
GPA 4.0 scale | 3.5 | 3.0 | 2.5 |
Hungary
First-class honours (70%) | Upper second-class honours (60%) | Lower second-class honours (50%) | |
---|---|---|---|
Alapfokozt or Egyetemi Oklevel / Bachelor | 5 | 4 | 3 |
Iceland
First-class honours (70%) | Upper second-class honours (60%) | Lower second-class honours (50%) | |
---|---|---|---|
Baccalaurreatus degree or Kandidatsprof/Candidatus Mag | 8.5 | 7.5 | 6.5 |
India
First-class honours (70%) | Upper second-class honours (60%) | Lower second-class honours (50%) | |
---|---|---|---|
Institutions listed on the Indian Ranking of Higher Educational Institutions Framework | 65% (First) | 60% (First) | 55% (Upper second) |
All other Indian institutions | 70% (First with distinction) | 65% (First) | 60% (First) |
Indonesia
First-class honours (70%) | Upper second-class honours (60%) | Lower second-class honours (50%) | |
---|---|---|---|
Sarjana I (S1) from A (or B) credited Universities | 3.7 (4.0) | 3.3 (3.7) | 3 (3.3) |
Iran
First-class honours (70%) | Upper second-class honours (60%) | Lower second-class honours (50%) | |
---|---|---|---|
Iran | 17 | 15 | 13 |
Iraq
First-class honours (70%) | Upper second-class honours (60%) | Lower second-class honours (50%) | |
---|---|---|---|
Iraq | 80% | 75% | 70% |
Ireland
First-class honours (70%) | Upper second-class honours (60%) | Lower second-class honours (50%) | |
---|---|---|---|
Republic of Ireland | First (70%) | Upper second (60%) | Lower second (50%) |
Israel
First-class honours (70%) | Upper second-class honours (60%) | Lower second-class honours (50%) | |
---|---|---|---|
3 yr Bachelor Degree | 90% | 80% | 70% |
Italy
First-class honours (70%) | Upper second-class honours (60%) | Lower second-class honours (50%) | |
---|---|---|---|
Diploma di Laurea | 109/110 | 104/110 (or 27) | 100/110 (or 26) |
Ivory Coast
First-class honours (70%) | Upper second-class honours (60%) | Lower second-class honours (50%) | |
---|---|---|---|
Diplome d'Etude Approfondies, Diplome d'Etude Superieures or Diplome d'Etude Superieures | 16 | 14 (Bien) | 12 (Assez Bien) |
Jamaica
First-class honours (70%) | Upper second-class honours (60%) | Lower second-class honours (50%) | |
---|---|---|---|
For degrees studied at The University of West Indies or degrees accredited by UCJ and CCCJ | 1st (GPA 3.6) | 2:1 (GPA 3.0) or B | 2:2 (GPA 2.0) or C |
Japan
First-class honours (70%) | Upper second-class honours (60%) | Lower second-class honours (50%) | |
---|---|---|---|
Japan | 85% | 80% or B or 3.0 | 70% or C or 2.0 |
Jordan
First-class honours (70%) | Upper second-class honours (60%) | Lower second-class honours (50%) | |
---|---|---|---|
GPA 4.0 scale | 3.5 | 3 or 3.5/5 or 75% | 2.8 or 65% |
Kazakhstan
First-class honours (70%) | Upper second-class honours (60%) | Lower second-class honours (50%) | |
---|---|---|---|
GPA 5.0/percentage scale | 4.5 or 90% | 4 or 85% | 3.5 or 80% |
GPA 4.33 scale | 3.9 | 3.7 | 3.2 |
GPA 4.0 scale | 3.7 | 3.4 | 3 |
Kenya
First-class honours (70%) | Upper second-class honours (60%) | Lower second-class honours (50%) | |
---|---|---|---|
Kenya | First / 70% / A | Upper second / 60% / B | Lower second / 50% / C |
Kosovo
First-class honours (70%) | Upper second-class honours (60%) | Lower second-class honours (50%) | |
---|---|---|---|
Kosovo | 10 | 9 | 8 |
Kuwait
First-class honours (70%) | Upper second-class honours (60%) | Lower second-class honours (50%) | |
---|---|---|---|
GPA 4.0 scale | 3.6 | 3.0 | 2.8 |
Latvia
First-class honours (70%) | Upper second-class honours (60%) | Lower second-class honours (50%) | |
---|---|---|---|
Latvia | 9 | 7 | 6 |
Lebanon
First-class honours (70%) | Upper second-class honours (60%) | Lower second-class honours (50%) | |
---|---|---|---|
American | 90% (3.5) | 80% (3.2) | 70% (2.8) |
French | 18 | 15 | 12 |
Liberia
First-class honours (70%) | Upper second-class honours (60%) | Lower second-class honours (50%) | |
---|---|---|---|
Master's | 4.0 or 90% | 3.5 or 85% | 3 or 80% |
Libya
First-class honours (70%) | Upper second-class honours (60%) | Lower second-class honours (50%) | |
---|---|---|---|
BSc Engineering, Architecture, Medicine | 85 (3.6) | 75 (3.0) | 65 (2.5) |
Other bachelor's degree from a university | 90 (4.0) | 85% (3.6) | 75% (3.0) |
Lithuania
First-class honours (70%) | Upper second-class honours (60%) | Lower second-class honours (50%) | |
---|---|---|---|
Lithuania | 9 | 8 | 7 |
Macau
First-class honours (70%) | Upper second-class honours (60%) | Lower second-class honours (50%) | |
---|---|---|---|
Macau | 1st or GPA 3.7 | 2:1 or GPA 3.0 | 2:2 or GPA 2.5 |
Macedonia
First-class honours (70%) | Upper second-class honours (60%) | Lower second-class honours (50%) | |
---|---|---|---|
Macedonia | 10 | 9 | 8 |
Malawi
First-class honours (70%) | Upper second-class honours (60%) | Lower second-class honours (50%) | |
---|---|---|---|
Master's only | MSc 75% | MSc 70% | MSc 65% |
Malaysia
First-class honours (70%) | Upper second-class honours (60%) | Lower second-class honours (50%) | |
---|---|---|---|
Classification | First Class | 2.1 | 2.2 |
GPA 4.0 scale | 3.5 | 3.0 | 2.8 |
Malta
First-class honours (70%) | Upper second-class honours (60%) | Lower second-class honours (50%) | |
---|---|---|---|
Malta | 1st (80%) | 2:1 (70%) | 2:2 (55%) |
Mauritius
First-class honours (70%) | Upper second-class honours (60%) | Lower second-class honours (50%) | |
---|---|---|---|
Mauritius | 1st or 70% | 2:1 or 60% | 2:2 or 50% |
Mexico
First-class honours (70%) | Upper second-class honours (60%) | Lower second-class honours (50%) | |
---|---|---|---|
Mexico | 9 | 8 | 7 |
Moldova
First-class honours (70%) | Upper second-class honours (60%) | Lower second-class honours (50%) | |
---|---|---|---|
Diploma de Licenţă (Diploma of Licentiate) | 10 | 9 | 8 |
Mongolia
First-class honours (70%) | Upper second-class honours (60%) | Lower second-class honours (50%) | |
---|---|---|---|
Диплом Специалиста (Specialist Diploma) | 90% or 3.5 | 80% or GPA 3.2 | 70% or GPA 3.0 |
Morocco
First-class honours (70%) | Upper second-class honours (60%) | Lower second-class honours (50%) | |
---|---|---|---|
Morocco | 17 | 15 | 13 |
Mozambique
First-class honours (70%) | Upper second-class honours (60%) | Lower second-class honours (50%) | |
---|---|---|---|
4 year Licenciatura | 16 | 14 | 12 |
Myanmar (Burma)
First-class honours (70%) | Upper second-class honours (60%) | Lower second-class honours (50%) | |
---|---|---|---|
2 year Master's degree | 5 or 85% | 5 or 75% | 4.5 or 65% |
Namibia
First-class honours (70%) | Upper second-class honours (60%) | Lower second-class honours (50%) | |
---|---|---|---|
Namibia | 80% or A | 70% or B | 60% or C |
Nepal
First-class honours (70%) | Upper second-class honours (60%) | Lower second-class honours (50%) | |
---|---|---|---|
Master's (after 3 year bachelor degree) | 90% or 3.9 GPA | 80% or 3.8 GPA | 65% or 3.3 GPA |
Netherlands
First-class honours (70%) | Upper second-class honours (60%) | Lower second-class honours (50%) | |
---|---|---|---|
Netherlands | 8 | 7 | 6 |
New Zealand
First-class honours (70%) | Upper second-class honours (60%) | Lower second-class honours (50%) | |
---|---|---|---|
4 Year Honours degree (480 credits) - Level 8 | First (7.0) | Upper Second (6.0) | Lower Second (4.0) |
Nicaragua
First-class honours (70%) | Upper second-class honours (60%) | Lower second-class honours (50%) | |
---|---|---|---|
Licenciatura (4 year) | 90% | 80% | 70% |
Nigeria
First-class honours (70%) | Upper second-class honours (60%) | Lower second-class honours (50%) | |
---|---|---|---|
7 point Scale | 6 | 5 | 4 |
5 point scale | 4.5 | 3.8 | 3.5 |
4 point scale | 3.5 | 3 | 2.5 |
Norway
First-class honours (70%) | Upper second-class honours (60%) | Lower second-class honours (50%) | |
---|---|---|---|
Norway | A | B | C |
Oman
First-class honours (70%) | Upper second-class honours (60%) | Lower second-class honours (50%) | |
---|---|---|---|
GPA 4.0 scale | 3.5 | 3.0 | 2.5 |
Pakistan
First-class honours (70%) | Upper second-class honours (60%) | Lower second-class honours (50%) | |
---|---|---|---|
Public Universities 4 Year degree only | First with distinction (75%) / 4.0 | First (65%) / 3.2 | Second (59%) / 2.6 |
Private Universities 4 Year degree only | First with Distinction (85%) | First (75%) | First (65%) |
2 or 3 year bachelor's plus Master's | First (60%) | Second (55%) | Second (50%) |
Palestine
First-class honours (70%) | Upper second-class honours (60%) | Lower second-class honours (50%) | |
---|---|---|---|
Bachelor Degree | A / 90% / 3.7 | B+ / 85% / 3.3 | B / 80% / 3.0 |
Panama
First-class honours (70%) | Upper second-class honours (60%) | Lower second-class honours (50%) | |
---|---|---|---|
4 Year Licenciado / Título de [subject area] | 91 (A) | 81 (B) | 71 (C) |
Papua New Guinea
First-class honours (70%) | Upper second-class honours (60%) | Lower second-class honours (50%) | |
---|---|---|---|
Papua New Guinea | 1st | 2:1 | 2:2 |
Paraguay
First-class honours (70%) | Upper second-class honours (60%) | Lower second-class honours (50%) | |
---|---|---|---|
Paraguay | - | 4 | 3.5 |
Peru
First-class honours (70%) | Upper second-class honours (60%) | Lower second-class honours (50%) | |
---|---|---|---|
4 Year Título de Licenciado / Título de [subject area] | 14 | 13 | 12 |
Philippines
First-class honours (70%) | Upper second-class honours (60%) | Lower second-class honours (50%) | |
---|---|---|---|
Degree from prestigious state universities or Centres of Excellence (COE) | Summa Cum Laude 4.0 / 96% / 1.0 | Magna cum Laude 3.5 / 92% / 1.5 | Cum Laude 3.0 / 87%/ 2.0 |
Poland
First-class honours (70%) | Upper second-class honours (60%) | Lower second-class honours (50%) | |
---|---|---|---|
Bachelor Degree (post 2003) Magister (pre- 2003) | 5 | 4.5 / 4+ | 4 |
Portugal
First-class honours (70%) | Upper second-class honours (60%) | Lower second-class honours (50%) | |
---|---|---|---|
Portugal | 18 | 16 | 14 |
Qatar
First-class honours (70%) | Upper second-class honours (60%) | Lower second-class honours (50%) | |
---|---|---|---|
GPA 4.0 scale | 3.5 | 3.0 | 2.8 |
Romania
First-class honours (70%) | Upper second-class honours (60%) | Lower second-class honours (50%) | |
---|---|---|---|
Diploma de Licenta/ Diploma de Inginer | 9 | 8 | 7 |
Russia
First-class honours (70%) | Upper second-class honours (60%) | Lower second-class honours (50%) | |
---|---|---|---|
Russia | 4.5 | 4.0 | 3.5 |
Rwanda
First-class honours (70%) | Upper second-class honours (60%) | Lower second-class honours (50%) | |
---|---|---|---|
4 year bachelor (Hons) degree (480 credits) | 1st, 16/20 (80%) | 2:1,14/20 (70%) | 2:2, 12/20 (60%) |
Saudi Arabia
First-class honours (70%) | Upper second-class honours (60%) | Lower second-class honours (50%) | |
---|---|---|---|
GPA 4.0 scale | 3.5 | 3.0 | 2.8 |
GPA 5.0 scale | 4.5 | 3.75 | 3.5 |
Senegal
First-class honours (70%) | Upper second-class honours (60%) | Lower second-class honours (50%) | |
---|---|---|---|
Maitrise, Diplome d'Etude Approfondies,Diplome d'Etude Superieures or Diplome d'Etude Superieures Specialisees | 16/20 or Tres Bien | 14/20 or Bien | 12/20 or Assez Bien |
Serbia
First-class honours (70%) | Upper second-class honours (60%) | Lower second-class honours (50%) | |
---|---|---|---|
Diplomirani/ Bachelor's degree | 9 | 8 | 7 |
Sierra Leone
First-class honours (70%) | Upper second-class honours (60%) | Lower second-class honours (50%) | |
---|---|---|---|
Classification | - | 2:1 | 2:2 |
Percentage grading | - | 60-69% | 50-59% |
Letter grading | - | B+ | B |
Singapore
First-class honours (70%) | Upper second-class honours (60%) | Lower second-class honours (50%) | |
---|---|---|---|
Classification | First | Upper second | Lower second |
GPA 4.0 scale | 3.7 | 3.0 | 2.7 |
GPA 5.0 scale | 4.5 | 3.5 | 3.0 |
Slovakia
First-class honours (70%) | Upper second-class honours (60%) | Lower second-class honours (50%) | |
---|---|---|---|
Slovakia | 1.5 or B | 2.0 or C | 2.5 or C/high D |
Slovenia
First-class honours (70%) | Upper second-class honours (60%) | Lower second-class honours (50%) | |
---|---|---|---|
Slovenia | 9.5 | 8.5 | 7 |
South Africa
First-class honours (70%) | Upper second-class honours (60%) | Lower second-class honours (50%) | |
---|---|---|---|
Classification | 1st | 2:1 | 2:2 |
Percentage scale | 75-100% | 70-74% | 60-69% |
South Korea
First-class honours (70%) | Upper second-class honours (60%) | Lower second-class honours (50%) | |
---|---|---|---|
GPA out of 4.5 | 4.0 / A | 3.5 / B | 3.0 / C+ |
GPA out of 4.3 | 4.0 / A | 3.0 / B | 2.7 / C+ |
Spain
First-class honours (70%) | Upper second-class honours (60%) | Lower second-class honours (50%) | |
---|---|---|---|
Licenciado / Título de Ingeniero / Título de Arquitecto | 8.5 | 7 | 6.5 |
UCM grading | 3.0 | 2.0 | 1.5 |
Sri Lanka
First-class honours (70%) | Upper second-class honours (60%) | Lower second-class honours (50%) | |
---|---|---|---|
Sri Lanka | 70% | 60% | 55% |
Sudan
First-class honours (70%) | Upper second-class honours (60%) | Lower second-class honours (50%) | |
---|---|---|---|
Sudan (North and South) | 1st or 70% or B+ | 2:1 or 66% | Mid 2:2 or 60% or B |
Sweden
First-class honours (70%) | Upper second-class honours (60%) | Lower second-class honours (50%) | |
---|---|---|---|
Sweden | - | Overall grade of VG with a minimum of 90 credits at VG | Overall grade of G with a minimum of 90 credits at G |
Switzerland
First-class honours (70%) | Upper second-class honours (60%) | Lower second-class honours (50%) | |
---|---|---|---|
Switzerland | 6 | 5 | 4 |
Syria
First-class honours (70%) | Upper second-class honours (60%) | Lower second-class honours (50%) | |
---|---|---|---|
State universities 4 years of study | 80% | 70% | 60% |
Private universities 4 years of study | 90% | 80% | 70% |
Taiwan
First-class honours (70%) | Upper second-class honours (60%) | Lower second-class honours (50%) | |
---|---|---|---|
Category 1 (4 year degree) | 80% | 75% | 70% |
Category 2 (4 year degree) | 85% | 80% | 75% |
Tajikistan
First-class honours (70%) | Upper second-class honours (60%) | Lower second-class honours (50%) | |
---|---|---|---|
Tajikistan | - | 4.5 | 4 |
Tanzania
First-class honours (70%) | Upper second-class honours (60%) | Lower second-class honours (50%) | |
---|---|---|---|
Tanzania | 1st | 2:1 | 2:2 |
Thailand
First-class honours (70%) | Upper second-class honours (60%) | Lower second-class honours (50%) | |
---|---|---|---|
GPA 4.0 scale | 3.5 | 3.2 | 2.8 |
Trinidad and Tobago
First-class honours (70%) | Upper second-class honours (60%) | Lower second-class honours (50%) | |
---|---|---|---|
For degrees studied at The University of West Indies or degrees accredited by ACTT | 1st or B+ or 70% | 2:1 or B or 65% | 2:2 or B- or 60% |
Tunisia
First-class honours (70%) | Upper second-class honours (60%) | Lower second-class honours (50%) | |
---|---|---|---|
Licence, Maîtrise, Diplôme National d'Ingénieu | 15 (tres bien) | 14 (bien) | 11 (assez bien) |
Turkey
First-class honours (70%) | Upper second-class honours (60%) | Lower second-class honours (50%) | |
---|---|---|---|
Lisans Diplomasi or a Műhendis Diplomasi | 3.5 | 3 | 2.5 |
Turkmenistan
First-class honours (70%) | Upper second-class honours (60%) | Lower second-class honours (50%) | |
---|---|---|---|
Turkmenistan | - | 4.5 | 4 |
Uganda
First-class honours (70%) | Upper second-class honours (60%) | Lower second-class honours (50%) | |
---|---|---|---|
Uganda | 1st or 4.4 | 2:1 or 3.8 | 2:2 or 3.0 |
Ukraine
First-class honours (70%) | Upper second-class honours (60%) | Lower second-class honours (50%) | |
---|---|---|---|
Dyplom Magistra or a Bachelors degree (11 / 5) | 11 or 5 | 9 or 4.5 | 8 or 4 |
United Arab Emirates
First-class honours (70%) | Upper second-class honours (60%) | Lower second-class honours (50%) | |
---|---|---|---|
GPA 4.0 scale | 3.5 | 3.0 | 2.6 |
United States of America
First-class honours (70%) | Upper second-class honours (60%) | Lower second-class honours (50%) | |
---|---|---|---|
GPA 4.0 scale | 3.5 | 3.2 | 2.8 |
Uruguay
First-class honours (70%) | Upper second-class honours (60%) | Lower second-class honours (50%) | |
---|---|---|---|
Licenciado (4 year) | 10 | 9 | 8 |
Uzbekistan
First-class honours (70%) | Upper second-class honours (60%) | Lower second-class honours (50%) | |
---|---|---|---|
Bakalavr Diplomi / Diplomi (Specialist Diploma) | 90% or GPA 4.5 | 80% or GPA 4.0 | 70% or GPA 3.0 |
Venezuela
First-class honours (70%) | Upper second-class honours (60%) | Lower second-class honours (50%) | |
---|---|---|---|
Licenciado/Professional title. (4 year) | 18/20 or 8/9 | 16/20 or 7/9 | 14/20 or 6/9 |
Vietnam
First-class honours (70%) | Upper second-class honours (60%) | Lower second-class honours (50%) | |
---|---|---|---|
Vietnam | 8.0 | 7.0 | 6.0 |
Zambia
First-class honours (70%) | Upper second-class honours (60%) | Lower second-class honours (50%) | |
---|---|---|---|
Master's | A or 4.0 or 80% | B+, 3.5 or 70% | B or 3.0 or 60% |
Zimbabwe
First-class honours (70%) | Upper second-class honours (60%) | Lower second-class honours (50%) | |
---|---|---|---|
3/4 year degree | 1st or 75% | 2:1 or 65% | 2:2 or 60% |
English language requirements
Applicants must meet the minimum English Language requirements. Further details are available on the International website.
Fees and funding
UK / EU fee
- Full-time degree per annum
- £13,800
International fee
- Full-time degree per annum
- £23,200
Tuition fees cover the cost of your teaching, assessment and operating University facilities such as the library, IT equipment and other support services. University fees and charges can be paid in advance and there are several methods of payment, including online payments and payment by instalment.
Our students and academics

Yiran Wang
Banking and Finance MSc Student
From studying this course, I can gain professional knowledge about finance - which will be good for my career.